National Assembly of Vietnam - Law No. 47/2010/QH12 - On Credit Institutions

The National Assembly of Vietnam's Law No. 47/2010/QH12 On Credit Institution seeks to ensure a safe and effective operation of the nation’s banking system. The law repeals Law No. 02/1997/QH10 On Credit Institutions, and provides for the establishment, organization, operation, special control, reorganization and dissolution of domestic credit institutions (banks, non-bank credit institutions, and micro finance institutions) in the country. In addition, the law provides for the establishment, organization and operation of foreign bank branches and representative offices of foreign credit institutions and other foreign institutions engaged in banking operations. The law is divided into several chapters, and sets forth provisions on the following topics:

1. Licenses
2. Organization, Governance and Administration of Credit Institutions
3. Operations of Credit Institutions
4. Representative Offices of Foreign Credit Institutions and Other Foreign Institutions Engaged In Banking Operations
5. Restrictions for Safe Operations of Credit Institutions
6. Finance, Accounting and Reporting
7. Special Control, Reorganization, Bankruptcy, Dissolution and Liquidation of Credit Institutions
8. State Management Agencies

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Saturday, October 1, 2011
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National Assembly of Vietnam
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